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Special Reports
In this section of BrokerUniverse we examine a subject of key importance
for mortgage originators every month, based on special reports that run in our sister publication, Origination News.
Credit Restoration
Keeping Scores In Line
Credit scores have reached the point where they have become as central to peoples'
lives as a key utility. Thus, borrowers can be cut off from a lot if credit lines are not paid off or payoffs are
not reported correctly.
Not only are credit scores used in lending, they are now used by employers to
make hiring decisions. The military looks at credit scores for security clearance, insurers use them to set rates
and more. Thus, not only is it important for borrowers to restore their credit if it is damaged, but it is important
to go about credit restoration efforts carefully.
Historically, some "credit repair" efforts have been linked to fraud
and companies supposedly offering such services have come under legal and regulatory scrutiny, according to the
Federal Trade Commission.
In this Special Report, read some of the commission's advice on how to avoid some
related credit repair risks.
Also in this Special Report read how a pair of credit repair companies seek to
hold creditors to the letter of the law in order to keep negative items on the credit report.
Then there is Market Kinetix, which says it is seeing increased demand for its
Mortgage Action Plan. This provides loan originators with a customized plan of action for how borrowers may achieve
a target credit score in the shortest time possible.
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